Business
Imperial Mining and FusiA Groupe Awarded a $2.6 million Federally-Funded Scandium-Aluminum R&D Grant
MONTREAL, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG; OTCQB: IMPNF) and partner FusiA Groupe (“FusiA”), collect
About this update from Scandium Canada Ltd Class A
[{"type":"text","content":" MONTREAL, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. (\"Imperial\") (TSX VENTURE: IPG; OTCQB: IMPNF) and partner FusiA Groupe (“FusiA”), collectively “Consortium”, are pleased to announce that they have been awarded funding, as a Consortium, for a scandium-aluminum material R&D project valued at CAN$2,600,520 from a Federally-funded not-for-profit institution. The project will focus on the industrialization and the development of a vertically integrated supply chain for a scandium-aluminum alloy for 3D printing. The project funding support will be distributed on a 70:30 basis between Imperial and FusiA, respectively. The project submission process and selection criteria are extremely rigorous, including a detailed financial review, extensive documentation, and assessment by a panel of five independent experts. By being awarded this funding, the Consortium has shown that it is poised to promote job growth, spur on new innovations and support Canada’s industrial landscape. “This award is a key step in Imperial’s long-term strategic goal of becoming the premier supplier of scandium,” said Imperial President & CEO Peter J. Cashin. “The Consortium has submitted market projections that show growing demand for new innovative light weight scandium-aluminum alloys used in 3D printing applications. The business case has been vetted by the thorough project submission process and deemed to be of high value to the Canadian economy. This project will promote job growth, ensure long-term business opportunities and cement Canada as a leader in new manufacturing technologies. We look forward to working with FusiA Groupe over the coming months and years.” “The project funding will enable FusiA Groupe to deploy the solid know-how that it has developed over the last 10 years,” said FusiA Groupe founder & CEO Cyrille Chanal. “FusiA became involved in 3D printing in 2011, being one of the first companies to develop expertise in 3D printing of aluminum alloys. By expanding our pallet of alloys to include scandium-aluminum, FusiA Groupe will contribute to the establishment of a secure Canadian supply chain for the alloy for the aerospace & defense industries. Finally, this project will allow FusiA Groupe to maintain its position as one of the Canadian leaders in the production of metal additive manufactured parts usin...